DXC Technology Company. (NYSE:DXC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in DXC Technology Company. (NYSE:DXC - Free Report) by 5.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,460,366 shares of the company's stock after selling 90,961 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of DXC Technology worth $24,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXC. Proficio Capital Partners LLC purchased a new stake in DXC Technology in the 4th quarter worth approximately $659,000. Raymond James Financial Inc. purchased a new position in shares of DXC Technology in the 4th quarter valued at approximately $3,308,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of DXC Technology by 3.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,206 shares of the company's stock valued at $843,000 after purchasing an additional 1,507 shares during the period. HighTower Advisors LLC raised its stake in DXC Technology by 8.2% during the fourth quarter. HighTower Advisors LLC now owns 18,069 shares of the company's stock valued at $361,000 after buying an additional 1,370 shares during the last quarter. Finally, Swiss National Bank raised its stake in DXC Technology by 1.1% during the fourth quarter. Swiss National Bank now owns 355,700 shares of the company's stock valued at $7,107,000 after buying an additional 3,800 shares during the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Down 1.0%

DXC Technology stock traded down $0.15 during mid-day trading on Friday, reaching $14.41. 1,126,052 shares of the company were exchanged, compared to its average volume of 1,501,119. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $2.61 billion, a P/E ratio of 6.83 and a beta of 1.20. DXC Technology Company. has a 12-month low of $13.44 and a 12-month high of $24.83. The business has a fifty day moving average of $15.33 and a 200 day moving average of $17.13.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.13 billion. DXC Technology had a return on equity of 19.36% and a net margin of 3.02%. The firm's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Research analysts anticipate that DXC Technology Company. will post 3.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on DXC shares. JPMorgan Chase & Co. cut their price target on DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. Wall Street Zen upgraded DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday. BMO Capital Markets lowered their price objective on DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a research report on Thursday, May 15th. Royal Bank Of Canada decreased their target price on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, Susquehanna decreased their target price on DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.00.

DXC Technology Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).